Job ID 39901
Senior Reinsurance Associate
City of London
cer Financial are working alongside a warm, diverse insurance company who are based in the City of London. They are seeking a Senior Reinsurance Associate to work with them on a permanent basis.
The Responsibilities of a Senior Reinsurance Associate Will Include:
- Accurately record and reconcile reinsurance transactions, including premiums, ceded and assumed reinsurance, and commission calculations. Maintain detailed records of reinsurance contracts and agreements.
- Analyse financial data related to reinsurance, including loss reserves, premium adjustments, and retrocession agreements. Prepare variance analyses and reports for management review.
- Ensure compliance with accounting principles, regulatory requirements, and industry standards. Assist in the preparation of financial statements and reports related to reinsurance activities.
- Collaborate with internal and external auditors to facilitate the audit of reinsurance financial records. Provide documentation and explanations as needed during audits.
- Reconcile reinsurance accounts, resolving discrepancies and ensuring accuracy in financial records. Monitor and reconcile cash transactions related to reinsurance activities.
- Communicate effectively with internal departments, reinsurers, and brokers to address accounting inquiries and discrepancies. Work collaboratively with underwriting and claims teams to ensure accurate and timely financial information.
- Identify opportunities for process improvements in reinsurance accounting procedures.
- Implement efficiency measures to streamline workflows and enhance accuracy. Collaborate with IT to troubleshoot and resolve system issues promptly.
- Daily management of reinsurance business according to the company’s business structure and risk statuses, such as renewal of reinsurance contract, facultative reinsurance, and commission fee.
The Successful Senior Reinsurance Associate Wil Have:
- Over 5 years of UK reinsurance experience, processing accounts rendering and settlements.
- Good analytical and PC skills.
- Chinese speaking desirable but not essential.